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Latest filing: 2026-07-31 12:11
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Shlokka Dyes to acquire Equinox Impex for ₹3.67 Cr; adds ₹47 Cr revenue (~57% of FY26 sales)
Shlokka Dyes has approved the acquisition of Equinox Impex (EI), a promoter-owned entity, for ₹3.67 crore in cash. The acquisition is significant as EI's FY26 turnover of ₹47.01 crore represents approximately 57% of Shlokka's FY26 standalone revenue of ₹81.94 crore. While the deal consolidates the promoter's export business into the listed entity and eliminates conflicts of interest, the target entity operates on very thin margins, reporting a PAT of only ₹0.28 crore on ₹47 crore revenue (0.6% margin).
Confidence: HIGH
What changedShlokka Dyes is consolidating a promoter-owned export trading business into the listed entity via a slump sale, bringing the 'EQUINOX' brand in-house.
Why it mattersThe acquisition significantly scales the company's top-line and export reach while eliminating potential conflicts of interest between the promoter's private interests and the listed company.
Acquisition Cost: ₹3.67 CrTarget FY26 Turnover: ₹47.01 CrTarget vs Co. FY26 Revenue: ~57.3%Target FY26 PAT: ₹0.28 CrTrademark Value: ₹1.44 Cr
📅 Short termThe market is likely to react positively to the substantial revenue addition and the consolidation of promoter business, though the low margin profile of the target may temper enthusiasm.
📈 Long termStructurally positive as it simplifies the group structure and adds export capabilities, but long-term value depends on margin expansion of the acquired trading business.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Related-party transaction
- Very low target net margins (0.6%)
- Declining turnover in the target entity (down 38% YoY)
Key Highlights
Acquisition of Equinox Impex for a total cash consideration of ₹3.67 crore on a slump sale basis.
Target entity turnover of ₹47.01 crore in FY26, which is ~57% of Shlokka Dyes' FY26 revenue of ₹81.94 crore.
The deal includes ₹1.44 crore specifically for the acquisition of the 'EQUINOX' trademark.
Target entity's revenue has shown volatility, declining from ₹75.69 crore in FY25 to ₹47.01 crore in FY26.
The transaction is a Related Party Transaction as the target is a sole proprietorship of the company's Managing Director.
👀 What to Watch
Watch for the integration of the export business and whether Shlokka can improve the target's 0.6% net profit margin through operational synergies and cost-saving measures.
